credit of excise duty
This query is : Resolved
12 August 2009
we are taking a materials from one party they charge excise on that bill but payment made third party 2 them but the excise bill our name.Third party collect excess amt from us should i get credit of excise. there is no contract note for that.
12 August 2009
Central excise is not on sale but on removal. Therefore if the excise document has you as the reciver you are eligible to avail the credit of the same even though you are not the owner. If the same material is removed you require to reverse the duty or if you manufacture a product you require to charge the ED on the value including the Free of cost supply.
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